Gold Prices Heading For $1,400/ Oz. By Q4: BofAML – ValueWalk Premium

Gold Prices Heading For $1,400/ Oz. By Q4: BofAML

Gold prices downshifted on Wednesday and Thursday as the U.S. dollar and equity markets remained strong. Traditionally, gold prices are negatively correlated with the dollar, so as the dollar rises, the yellow metal slumps. That negative correlation snapped briefly earlier this year, and although it looks like it's back in place now, Bank of America Merrill Lynch analysts suggest gold prices could be driven by a different catalyst in the near term.

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